India Brass, Copper Scrap prices fall further; Copper Futures drop 2.39 percent

By Vibin Antony
India’s major brass and copper scrap commodities prices fell further on the Scrap Register Price Index as on Tuesday, tracking the weakness in Copper Futures prices at India’s Multi Commodity Exchange due to fresh concerns that a U.S.-China trade war was dampening global growth.

India's major brass and copper scrap commodities prices including Brass accessories, Brass huny Scrap, Brass utensil scrap, ACR copper coil 3/8 ,cc rod lme ++, copper armature, copper cable scrap, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire scrap and electrolytic copper strip 25mm declined on the Scrap Register Price Index as on Tuesday.

The most active November copper contract on India's Multi Commodity Exchange has declined by 2.39 percent to Rs. 434.70 per kilogram on Tuesday from previous close of Rs. 445.35 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 445.20 per kilogram and an intra-day low of Rs. 434.15 per kilogram during Tuesday.

Copper has been drifting lower during the past week and could be heading for its third weekly loss in a row, as slowing global GDP growth is registered in the third quarter, pressuring the outlook for industrial demand for the metal.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

India Brass, Copper Scrap prices drop; Copper Futures slightly gain

By Vibin Antony
India’s major brass and copper scrap commodities prices dropped on the Scrap Register Price Index as on Monday, while Copper Futures prices at India’s Multi Commodity Exchange gained due to shortages created by tumbling inventories on the London Metal Exchange.

India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod and copper utensil scrap declined on the Scrap Register Price Index as on Monday.

The most active November copper contract on India's Multi Commodity Exchange has gained by 0.15 percent to Rs. 445.35 per kilogram on Monday from previous close of Rs. 444.70 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 451.20 per kilogram and an intra-day low of Rs. 444.05 per kilogram during Monday.

Inventories of copper in LME approved warehouses at 143,125 tonnes are down more than 60 percent since the 2018 peak near 390,000 tonnes.

The problem is compounded by cancelled warrants -- metal earmarked for delivery -- at nearly 54 percent of total stocks and a large holding of copper warrants between 50 and 79 percent.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Scrap Gold prices drop; Gold Futures fall from 3-month high

By Vibin Antony
United States scrap gold prices dropped on the Scrap Register Price Index as on Wednesday, tracking the weakness in gold futures prices at New York Mercantile Exchange as strength in the U.S. dollar helped prices give up a portion of the gains from a day earlier that had lifted prices to a three-month high.

The major gold scrap commodities prices including 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap, 22ct hallmarked gold scrap, 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap on the Scrap Register Price Index fell on Wednesday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices declined by 0.44 percent to 447.613 an ounce, 698.276 an ounce, 895.225 an ounce and 1093.368 an ounce respectively.

The 9ct non-hallmarked gold scrap, 14ct non-hallmarked gold scrap, 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices down to 423.386 an ounce, 660.482 ounce, 846.772 an ounce and 1034.191 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange dropped by $5.70 to settle at $1,231.10 an ounce on Wednesday. It climbed Tuesday by 1%, to close at $1,236.80 an ounce—the highest for a most-active contract since July 16.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Silver Scrap prices climb further in line with Silver Futures

By Vibin Antony
United States silver scrap prices climbed further on the Scrap Register Price Index as on Tuesday, tracking the up trend in silver futures prices at New York Mercantile Exchange as stocks faltered, weighed down by political tensions between Saudi Arabia and Western powers, uncertainties around Brexit and Italy's budgetary woes.

The major silver scrap commodities on the Scrap Register Price Index advanced on Friday. The hallmarked silver scrap prices advanced further by 0.58 percent to $12.114 an ounce and non-hallmarked silver scrap prices climbed to $10.753 an ounce.

The most active December Silver contract on the COMEX division of the New York Mercantile Exchange has advanced by 20.6 cents to $14.793 an ounce on Tuesday.

A cocktail of geopolitical tensions, led by Saudi Arabia’s crisis over its alleged role in the murder of prominent journalist Jamal Khashoggi, along with a weaker dollar, Italy’s budget woes and the ongoing U.S.-China trade war added to strength as an inflation hedge and store of value in times of trouble. US data showed the Richmond manufacturing index tumbled to 15 from 29 in September, missing estimates of 25.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Scrap Gold, COMEX Gold prices fall on strong Dollar

By Vibin AntonyUnited States scrap gold prices fell on the Scrap Register Price Index as on Monday, tracking the weakness in gold futures prices at New York Mercantile Exchange as the U.S. dollar strengthened against most of its currency rivals to start the week.

The major gold scrap commodities prices including 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap, 22ct hallmarked gold scrap, 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap on the Scrap Register Price Index dropped on Monday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices declined by 0.46 percent to 444.612 an ounce, 693.594 an ounce, 889.223 an ounce and 1086.038 an ounce respectively.

The 9ct non-hallmarked gold scrap, 14ct non-hallmarked gold scrap, 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices fell to 420.548 an ounce, 656.054 ounce, 841.095 an ounce and 1027.258 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange fell by $4.10 to settle at $1,224.60 an ounce on Monday, after losing about 0.1% on Friday. Last week, however, prices tallied a gain of roughly 0.6%.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)